Natura Resources has moved to expand and accelerate its commercial small modular reactor strategy through the acquisition of Shepherd Power and a new collaboration with NOV Inc.
The deal is designed to align Natura’s molten salt reactor technology with NOV’s manufacturing capabilities, positioning the company to deliver multiple gigawatts of advanced nuclear power for data center and industrial customers beginning in the early 2030s.
The agreement makes NOV both a strategic partner and a new investor in Natura, with NOV appointing a representative to Natura’s board. By combining NOV’s long-standing expertise in large-scale manufacturing and project execution with Shepherd Power’s regulatory and deployment background, Natura aims to streamline its timeline for bringing molten salt reactors to market.
The acquisition brings Shepherd Power’s licensing experience directly into Natura’s development pathway, broadening the company’s ability to offer a full suite of power solutions, including site development, construction, ownership, and operation of reactors. The added capabilities are expected to strengthen Natura’s competitive position as it prepares to scale its technology across critical energy-intensive markets.
Natura’s molten salt reactor design uses liquid fuel blended with a molten salt mixture, allowing the system to operate at atmospheric pressure and at high temperature, enhancing safety and reducing waste. The reactors can utilize multiple fuel sources, including recycled waste fuel, and support harvesting of medical isotopes essential for cancer treatment. Natura’s modular construction approach is intended to lower capital costs and make its 100 megawatt commercial reactor competitive with other clean baseload power options.
In addition to power generation, Natura’s 100-megawatt system’s high efficiency could make it a strong fit for produced water desalination in the Permian Basin and other major oil and gas regions. According to the U.S. Department of Energy’s deployment timeline, Natura’s MSR-1 is projected to become the first Gen IV reactor in the country. The Nuclear Regulatory Commission granted a construction permit in September 2024 for Natura’s 1 megawatt reactor at Abilene Christian University, which is expected to be deployed in 2026.
Natura plans to submit two commercial reactor applications to the NRC before the end of 2025, one aimed at supporting medical isotope production and the other focused on grid-scale energy deployment. The company expects to bring its first 100 megawatt reactor online in 2029. Natura has already secured more than one hundred twenty million dollars in private funding and has an additional one hundred twenty million dollar commitment from the State of Texas.
KEY QUOTES
“This strategic transaction will accelerate commercialization of our MSR technology and enhance our ability to offer comprehensive power solutions to customers. Shepherd Power is a leading voice in the advanced nuclear regulatory space, having significantly contributed to commercial licensing clarity with federal and state regulators, and has expertise in the requirements to site, build, own, and operate reactors. Combined with NOV’s expertise in scaling highly engineered equipment to drive down delivery costs, this transaction positions us to lead in delivering gigawatts of safe, advanced nuclear reactors within the next 5 years to support critical power needs and fuel American AI leadership.”
Doug Robison, Founder and CEO, Natura Resources
“The power market is one of the most significant industrial growth opportunities of the next decade. Our collaboration with Natura allows NOV to bring its unmatched manufacturing and project management capabilities into an adjacent sector that demands the same rigor, scale, and reliability we have delivered to energy customers for more than a century. We believe that Natura’s technology will be one of the first advanced reactors commercially available in the United States. Natura’s MSR design incorporates critical safety features and leverages the existing uranium supply chain, enabling the ability to scale manufacturing of reactors that can economically produce heat and power.”
Jose Bayardo, President and COO, NOV
